11 August 2000
The Boards of the IMF and World Bank have each established working groups to review the processes for selecting the Managing Director and President of the respective institutions. The Executive Boards will report to their Boards of Governors at the September Annual Meetings. The Boards are not likely to seek external input into the process. Details of directors in the working groups are on the Fund and Bank websites.
As the world celebrates the 75th anniversary of the Universal Declaration of Human Rights, it is time the IMF’s shareholders use the opportunities provided by the anniversary and growing calls for reforms to the international financial architecture to redesign the IMF’s governance structures and programmes to ensure they are consistent with the commitments outlined in 1948 and with international human rights law.
Influence of unreformed international financial institutions and creditor interests in debt solutions in low- and middle-income countries plagued by delay and ineffective when undertaken.
